Netflix Posts $1 Billion in Quarterly Streaming, Subscription Price Hike is Coming

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Veen

ENJOY FREE MOVIES AND TV SHOWS!!!!!!!!

http://www.time4popcorn.eu/

R.I.P. NETFLIX

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FrancesTheMute

To be honest, $10/month is still a hell of a deal for what you get with Netflix streaming. I'm not that upset about this. I figured there'd be a price hike after comcast extorted the money out of them

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Veen

Try this then for free

http://www.time4popcorn.eu/

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CaptainFabulous

It'a a perfect scheme they've devised. Netflix makes a shit ton of money, pays Comcast for preferential treatment and now has to charge their customers more to cover the added expenses. Comcast, in turn, not only gets boatloads of cash directly from Netflix but will charge extra to their customers who blow past their monthly caps from using Netflix, which is now significantly easier because of the increased data speeds.

It's a win-win for both of them, and as usual, a giant fuck you to us. Orange may be the new black, but green is still #1.

And this is why I don't bother with either and head straight to bittorrent for all my TV and movie needs. Fuck them.

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Veen

Same here Buddy, here is a new "FREE NETFLIX" version that uses Torrent movies.

Enjoy ;)

http://www.time4popcorn.eu/

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tomrippity

Justify it all you want, you are a thief and there is no good excuse for taking the product of others without paying for it. If you don't like how much they charge for it, then you should just not use it and find something else to do besides watch stolen content.

BTW, they didn't pay for special treatment, they paid to get rid of the special treatment. Comcast was targeting them and disrupting their service. Be mad at Comcast if anyone. You are a loser that will justify his own greed by condemning others though.. I don't expect you to use logic in your decision making.

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CaptainFabulous

Well I could argue that I couldn't possible be a thief because I'm not actually stealing anything, and there is no such thing as "stolen content" because you can't steal something that is not tangible (such as a computer file), but I fear you do not have the intellectual capacity to understand such nuances, so I won't even bother.

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Jaimie172

As usual Lily only got it have right they didnt make 1 billion profit that was the revenues. If you actually read more than just the first line of something you'd realize that it cost them a billion to run the company. The profits were in the 50 million range after taxes etc. Instead of posting false claims try spend some time researching the article a little.

Here's a real article on the subject.

http://www.bbc.com/news/business-27106460

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Paul_Lilly

Slow your roll and let your eyes digest what was actually written:

"Netflix's streaming revenue topped $1 billion..."

You'll notice that the word "revenue" (which I bolded for your convenience) is used and not "profit." There's also a link in the article to the financial report for anyone who wants to digest the particulars.

Have a happy day.

-Paul

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CaptainFabulous

Where exactly does Paul state they made $1 billion in profits? Oh yeah, that's right, he didn't. Maybe you should read better.

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Enigmatistical

Netflix earned $1 Billion in quarterly revenue and now an increase in subscription fees is in order. Unbelievable. There are no words...

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tomrippity

What is so unbelievable? Do you have some insight into their profits that we don't know about? It was 1B in revenue, not net profit. Their actual profits are more like 2.6 Million. If you owned a company that serviced the largest part of the connected world, how much would you believe is respectable profit?

It amazes me the number of people that act as if they would be above the idea of making as much money on their work as possible. As if they would sell something for less than they thought it was worth just for the fun of it.

My information came from: http://finance.yahoo.com/q/is?s=NFLX

2.6 million seems right unless I'm reading it wrong,which I might be.

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Enigmatistical

I understand 2.6 million is a closer profit figure than 1 billion. I'm suggesting the mentality that one must possess to have earned over a million dollars in 3 months and still feel it is inadequate is psychotic. I'm simply expressing my frustration this behavior exists and is tolerated in the name of capitalism. Netflix has already accrued worldwide support of their services, millions of happy faces and loyal customers.. why can't that be enough?

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sundropdrinker3

If the mentality didn't exist then most things we have today wouldn't exist. Why work to come up with a tv or phone or computer or whatever if you couldn't try and make money off of it. Washers, dryers, refrigerators, dishwashers, ovens, etc., weren't invented to "ease" the work of anyone. They were invented by people so they could sell them to people and make money. A lot more private(non-government) inventing and fine-tuning goes on in capitalist countries than in socialist ones because of the end rewards. Not very many people want to spend years and however many tens/hundreds of thousands of dollars on something and then just give it away. That's just called stupidity.

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Enigmatistical

Perhaps I didn't clarify the message I intended to convey. I acknowledge people wanting to earn a buck or two but earning (Paul insists) a Billion dollars in a quarter of a year and still not being satisfied is most certainly some form of psychosis.

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dgrmouse

If the cheapest internet package Comcast provides is rated for enough bandwidth to cover a HD Netflix stream more than five times over, shouldn't that be the end of the story in terms of Netflix performance?

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tomrippity

I always thought that the consumer should have been involved in the Comcast fiasco. If you are paying for x amount of bandwidth, you should receive that bandwidth, unthrottled, regardless of the source. Why does it matter if I use my 15 megs from Netflix vs using 15 megs for various sources all at once? I paid for it, they don't have the right to throttle it.

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Paul_Lilly

Unfortunately, no -- it's actually the beginning of a long debate on net neutrality. Comcast decided to throttle Netflix traffic during peak hours, which resulted in lots of buffering, poor quality video, and dropped streams.

There was a standoff between Comcast and Netflix, but eventually Netflix caved and inked a multi-year deal with Comcast so that it would stop throttling its streaming traffic.

Some good reading on the subject:

Internet Tolls and the Case for Strong Net Neutrality - Reed Hastings
Who Should Pay for Netflix? - AT&T's rebuttal to Hastings' above blog post

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dgrmouse

I take it as further evidence of how lost our system has become when companies are allowed to market and sell 50mb connections that choke on 2mb streams. In this case, the two corporate giants reached an agreement and passed the cost back to us. Otherwise, what recourse would an affected individual have? It's repugnant.

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vrmlbasic

Thanks for the AT&T blog post.

BTW, were the hypothetical amounts of data referencing Netflix's total output? If so, while I understand that they were hypothetical, 20 terabytes for the whole of Netflix over the course of a year seems mighty low.

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dbqfan

New members only? Next it will be the existing members. It seems every company has to get greedy.

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tomrippity

The objective to running the company is to make money, and while yes, the price hike will increase revenue, they will likely poor a large amount of that increase into new content that they can't currently afford. Also, if they believe the service is worth 9.99 a month, why shouldn't they sell it for as much? Would you sell your home for less than it is worth, just because you can afford to do so? No, you wouldn't.

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bloodgain

Netflix has a decent selection, but that has a lot to do with my preferences. I watch a lot of documentaries and foreign films (Chinese, Korean, and Japanese action/drama, mostly), run through a couple of short anime series per year, and chill out with late-night stand up comedy. Their TV series selection is decent, too. They are sorely lacking in the amount of *good* new movies they get and a are missing a lot of classics, though they do seem to be getting more of the latter. They could do for more classic TV series in their lineup, as well.

I figured a price hike was inevitable, and I can stand a couple bucks more per month. However, they should carefully consider any future increases. I think going over $10/month would hit the "back to BitTorrent" threshold for a big percentage of their cable-cutting subscribers.

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vrmlbasic

Netflix never had what I wanted to watch, I just had to find things that sounded interesting in their mediocre and ever-shrinking catalog. That wasn't worth $7.99 to me and it certainly isn't worth more.

...though if they could have managed to keep Bruce Springsteen off tour by sequestering his guitarist in Finland for their Lillyhammer show then I might have kept my subscription just to support that service that they were doing to all mankind.

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Mikey109105

As for existing subscribers, they'll stay at their current pricing, which will remain in effect "for a generous time period."

What, exactly, does that mean? How "generous" are we talking? A month? Six months? A year, a few years? This smells of BS to me.

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Ashton2091

It's two years. I wondered the same thing...but I found out through a few credible websites that also reported on this.

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Paul_Lilly

Not so fast. According to Reuters, Hastings indicated in an interview that existing subscribers will keep their current price for one or two years. That decision hasn't been made yet -- they're still deciding whether to raise the price by $1 or $2, which could impact the length of the grace period.

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Mikey109105

Ah OK. That's not too bad, then. Lets just hope the price increase isn't more than one or two dollars when those two years is up, because that will piss a lot of people I know off.

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germanogre

$98 billion is actually $98 million, right?

Otherwise, I'd declare Netflix to be Comcast wannabes. "We made $100 Billion this quarter! Give us more money."

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Paul_Lilly

Indeed, that should have been "million" -- my "b" key is always bullying the "m" key.

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tomrippity

I assume you meant 98 Million and 1 Billion respectively.